Orange Shipyard definition

Orange Shipyard means the approximately 12 acres of real property on the Sabine River, Orange, Texas, owned by Orange Shipbuilding Company, Inc. and which is Orange's shipyard, as described on Exhibit B.
Orange Shipyard means the shipyard owned by Guarantor which contains approximately 12 acres of real property on the Sabine River, Orange, Texas, as described on Exhibit B.